Resources aligned with the “Saving” standard from the National Standards in K-12 Personal Finance Education.
Saving means setting aside part of your income for emergencies and future purchases. Money you’ll need soon usually sits in low-risk, insured bank accounts, where interest helps your savings grow faster through compounding.
Infographic: Roth vs Traditional 401k – Are You Making the Right Choice? Roth vs Traditional 401k: Which is Better for Your First Job Roth or Traditional 401k? Choosing the wrong option could cost you tens of thousands of dollars, and the right answer isn’t the same for everyone. I passed the CFP® exam at 16 and …
Your first job comes with plenty of financial decisions. One of them could affect your retirement savings for decades. When you enroll in your employer’s 401k plan, you may have to choose between a Roth 401k and a Traditional 401k. What’s the difference? And how should you think about this decision when you’re just beginning …
Infographic: Infographic: A Beginner’s Guide to 403(b) Plan 403(b) Plan Explained: A Complete Beginner’s Guide Just $150 a month invested in a 403(b) can grow to over $1 million over time. But one hidden detail inside some 403(b) plans can erase hundreds of thousands of that growth. I passed the CFP® exam at 16 and …
A 403(b) can be a powerful retirement savings tool, especially for teachers, nonprofit employees, and other eligible workers. But there’s something many people don’t realize: not all 403(b) plans are created equal. Investment choices, fees, employer matching, and the choice between Traditional and Roth contributions can all have a major impact on your long-term results. …
Interactive Learning Experience: The HSA Triple Play And HSA is the one account that the tax system barely touches at all: going in, growing and coming out. See how much difference that makes compared to a regular account or a 401(k). Infographic: Health Savings Account (HSA) 101 Health Savings Account (HSA) Explained for Beginners With …
Most people think of an HSA as simply a place to set aside money for medical expenses. But an HSA has some unique tax advantages that can make it much more interesting for long-term financial planning. In this infographic, I explain how HSAs work, who can contribute, the tax benefits, investing options, and some withdrawal …
FAFSA isn’t simply about determining whether you qualify for a federal grant. Colleges can also use FAFSA information when determining financial aid, and eligibility depends on more than just household income. In this infographic, I explain the FAFSA process from start to finish, including what information you’ll need, the Student Aid Index, federal aid, college …
Interactive Learning Experience: The Bucket Sorter Your savings arrive as a pile of chips, and three buckets are waiting: checking for bills, high yield savings for emergencies, and index funds for everything past that. Drag the chips wherever you think they belong. Put too little in savings and the app shows what an emergency would …
If you’re starting to take control of your finances, one of the first questions you may have is: Where should I keep my savings? High-yield savings accounts have become increasingly popular, but there’s more to choosing one than simply finding the highest advertised rate. Here, I break down what HYSAs are, how APY works, what …
What could $150 a month become over several decades? The answer is a great illustration of why compound interest is such a powerful concept in personal finance. But there’s more to compounding than watching an investment balance grow. Time, contributions, returns, and even debt can all interact in ways that many people don’t fully appreciate. …
